China’s textile and apparel exports dropped sharply from January to February 2019

Mar 19, 2019  |  by CT
According to statistics, China's textile and apparel exports fell sharply from January to February 2019, with textile and apparel exports of 38.155 billion U.S. dollars, down 11.61% year-on-year. Compared with the annual average growth rate, China’s textile and apparel exports have fallen below the lowest level of - 10.5% created in the financial crisis of 2009. Certainly, the annual export of textile and apparel is generally low in the early stage and high in the later period. After the Spring Festival factors are eliminated, export growth rate gradually returns to normal level in the later period. Among them, textile exports amounted to $17.380 billion, down 7.82% from the same period last year, while apparel and accessories exports amounted to $20.775 billion, down 14.55% from the same period last year.
 
Valuated in Renminbi, China’s textile and apparel exports from January to February 2019 totaled 262.47 billion yuan, down 7.15% from the same period last year. In January this year, textile and apparel exports reached a new high level since September last year, while in February, textile and apparel exports suffered a sharp decline, which reached a new low level since February 2017. We believe that the main reason is the effect of the Spring Festival. At the same time, enterprises were anxious to export in order to avoid the risk of tariff imposition by China and the United States, so the data of the previous two months can not reflect the real export situation. The 29th East China Fair just concluded had a turnover of US$2.3 billion, which was basically the same as that in 2018. It shows that with the expectation of Sino-US trade negotiations improving, exports are turning the downward trend and stabilizing. Certainly, under the background of global economic and trade slowing down, China’s textile and garment exports will continue to bear pressure. Therefore, it is more reasonable to judge the trend of the whole year by observing the total trade volume and total trade growth in January-March.
 
In addition, China’s footwear exports totaled U.S. $5.164 billion in January 2019, an increase of 9.4% and the number increased by 15.5% year on year.

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